VC buys $14.5m house in cash as Canva makes investors rich overnight

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It seems not even Sydney’s leading venture capitalists like Blackbird’s Rick Baker are immune to the lure of Sydney’s high-end housing market.

Design software giant Canva made some of its staff and early investors rich overnight when it finalised a share sale recently worth $3.6 billion. So what did they do with the money? Turns out, a lot of them bought property.Waterfront Kurraba Point, no less, for which they have paid $14.5 million – cash – for a Mediterranean-inspired house with a swimming pool, slipway and private jetty.

, sold the couple’s former Artarmon home late last year for $5.85 million following a major redesign.The four-bedroom house is not quite beachfront, but is set alongside the viewing platform Carroll’s Lookout, so named for the house’s former owner and 1930s Mosman mayorRaine & Horne Mosman’s Brendan Warner was tipped to have sold the house given he sold it to the Healys, but declined to confirm such talk. No guesses who might be first in line to list the Athas home around the corner.

The Watermarque holds consecutive apartment records for Mosman, first set in 2018 at $10.22 million and again 2022 at $14.1 million.The whole-floor spread is in the Allen Jack + Cottier-designed block in which a previous apartment record was set in 2018 when RAMS Home Loan founderhave made a suitably glamorous home upgrade, buying an $18 million house in Mosman in cash.Franklin, who co-founded Eureka Productions, is coming from Northbridge, where he and Smith are preparing for a May 11 auction.

The six-bedroom house sold by Andrea and Craig Maber, of New Zealand’s Rich List family behind Power Farming Group.The purchase – through McGrath’s Nick Dunn – follows the sale of the Bondi Sands self-tanning product company to Japanese skincare giant Kao for more than $450 million.The inner west isn’t bursting at the seams with senior executives from the “millionaire’s factory”, but if one were to get lost en route from Mosman to Bellevue Hill then Haberfield is where you might find them.

 

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Canva shares: VCs are banking on Canva staff cash, but they’re buying houses insteadWhile most staff say they plan to put the money towards real estate, an investing program just for Canva staff already has the interest of more than 100 people.
Source: FinancialReview - 🏆 2. / 90 Read more »